Posted on 11/19/2018 9:27:22 AM PST by NRx
The world’s largest cryptocurrency dropped to its lowest level in more than a year on Monday.
Bitcoin hit a low of $4,951.47, bringing its losses to more than 21 percent in the past seven days and more than 62 percent this year, according to data from CoinDesk.
The digital currency began stumbling last week after months of relative calm. Bitcoin had been trading in the $6,400 range, a break from its volatility earlier this year, for the majority of October as the rest of global markets sold off. The cryptocurrency is now down more than 30 percent since last Thanksgiving.
Its epic rise started right after the American holiday last year, as the cryptocurrency gained its status as a household name and became a common topic around dinner tables. Bitcoin first topped $10,000 at the end of November last year and was worth almost $20,000 ahead of Christmas, mostly driven by retail investors.
The rapid run-up also coincided with the introduction of a bitcoin futures market in December. Peak prices lined up with the day the Chicago Mercantile Exchange, or CME, introduced bitcoin futures trading on Dec. 17. The Chicago Board Options exchange, or CBOE, opened a futures market a week earlier. Until futures existed it was extremely difficult, if not impossible, to bet on the decline of bitcoin prices.
On Monday, both of those bitcoin futures hit their lowest level since they were introduced. Bitcoin CME futures fell as low as $5,015 while bitcoin contracts on the CBOE dropped to $4,990.
(Excerpt) Read more at cnbc.com ...
I’m still trying to figure out how to buy a six pack with Bitcoin.
Hey! At least you'll look good pushing it into town!
That must be an Animaniacs ref? :^o
Sharp cheddar with bacon flavor?
Make sure you have Triscuits too.
Yes, yes it was.
Yet it is still much higher than the $350 I paid for it 3 years ago. Since then, I have sold some in 2016 and went to Disney World, and then again this year and back to Disney World, but to some people here on FR, they are just tulips!
Spreading what they call the Fiat currency.
Are there any mutual funds out there dealing exclusively in block chain-driven investments? I’d like to see what a block chain-driven investment performance index looks like.
Fix It Again, Tony...
Rosemary & Olive Oil Triscuits with hummus, mmmmmm...
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